Since its introduction in 2020, the concept of decentralized finance (DeFi) has onboarded the functionalities of the traditional financial system into the crypto industry. Harnessing the blockchain technology, DeFi protocols allow investors to lend, borrow, and earn high yields on crypto assets. On the downside, many DeFi projects have unsustainable yields that do not benefit…
TL;DR Shiba Inu saw a 450% increase in its burn rate and a significant rise in whale activity with daily transaction volumes nearing $900 million. Despite the recent correction, SHIB’s price is up 125% over the past year, with 52% of holders in profit. The Indicators’ Resurgence Despite experiencing a daily price correction of around…
TLDR Bitcoin’s price has rallied about 21% since a recent low, breaking through several technical levels Analysts expect Bitcoin to push higher, with potential targets of $69,000 and $74,000 Some analysts are forecasting Bitcoin could reach $200,000 or higher based on historical patterns and miner capitulation cycles Bitcoin needs to reclaim and hold above $65,000…
TLDR LI.FI, a cross-chain blockchain protocol, suffered a $11.6 million hack affecting 153 wallets The exploit was caused by a vulnerability in a newly deployed smart contract facet The company attributed the breach to “human error” in overseeing the deployment process Assets stolen included USDC, USDT, and DAI stablecoins LI.FI is working with law enforcement…
TLDR Hamster Kombat, a viral Telegram game, released a card referencing Trump’s recent failed assassination attempt The game claims to have over 250 million players in just 3 months Hamster Kombat plans to launch a crypto token called HMSTR on The Open Network (TON) HMSTR token has been listed on CoinMarketCap and will be available…
TLDR Indian cryptocurrency exchange WazirX lost approximately $230-235 million in a cyberattack. The attack targeted one of WazirX’s multisig wallets that uses Liminal’s digital asset custody infrastructure. Funds were moved to a new address and some have been swapped for Ether. WazirX has temporarily suspended withdrawals while investigating the incident. Some experts suggest the attack…
President Vladimir Putin declared it was time for Russia to create the environment needed to increase the adoption of digital assets and the Russian CBDC, the digital ruble, as part of the country’s economic tissue. He also reported that over 30,000 transactions have been made in the pilot test phase of the digital ruble, with…
TLDR The Winklevoss twins each donated $500,000 in Bitcoin to John Deaton’s campaign against Senator Elizabeth Warren. They view Warren as a major threat to crypto and American prosperity. This donation follows a $2 million Bitcoin donation to Donald Trump’s presidential campaign. Ripple also recently donated $1 million to a PAC supporting Deaton. Warren faces…
Key points: Tornado Cash has seen a resurgence in 2024, with $1.9 billion in deposits in the first half of the year. This increase comes despite ongoing US sanctions and legal issues for its founders. Hackers continue to use Tornado Cash to launder stolen funds from various crypto exploits. WazirX, an Indian crypto exchange, recently…
TL:DR According to Fox Business, Bitcoin (BTC) has surged 315,678% since 2013, making it the top-performing asset and attracting significant interest from institutional and mainstream investors. A recent prediction suggests Binance Coin (BNB) will rise 20.86% to $691.98 by mid-August 2024, with bullish indicators and a potential surge to $1,036.82 in 2025, despite some volatility.…